For those commenting on the $1,800 an inch number. He is not talking about the area (square inch) that needs to be painted, he is talking about the length of the boat divided by the cost to paint. A 100 foot yacht is 1,200 inches long. At up to $1,800 a foot its, up to $2,160,000 to paint that boat.
That still doesn't make sense because hull shapes vary hugely. Then you've got the super structure which also varies widely. A long hull with a thin beam will be quicker that a deeper drafted vessel of the same length, or with a wider beam. I guess he $1800 per inch is a reference but it shouldn't be considered more than a very very rough guide.
@@Iamalemonwhy thats not true, above 2 - 3 million as those are still owner operated yachts (Princess V60, Sunseeker Predator line and etc) the crew is half of the expenses.
My sibling works on a superyacht and a lot of her time is spent docked coordinating project managers, deliveries, and vendors working on upgrades and repairs. It's constant. In addition, making sure everything is stocked for crew.
I’m in Fort Lauderdale and this is a HUGE business here. STUPID money! Working on them is just an entirely different world from your normal day to day service calls. Without reservation EVERY crew member, EVERY ONE, was the most pleasant, educated, well spoken and nicest person you could ever meet! Always great crew members for sure. My invoice was paid via Zelle without complaint before I could put my street shoes back on and return to my car. I believe Fort Lauderdale is like the LARGEST port city in the US to do yacht maintenance. If you want it done, you come here! Having the Bahamas 90 miles away helps too!
Yes they call Fort Lauderdale “Venice of America” massive beautiful boats. Great point on the crew also. I’ve noticed that too with boat crews. They are almost always amazing, interesting, adventurous people. I Love Florida 🌴🌅🌊☀️
Just watching below deck and having lived in FL my whole life didn’t realize it was a major hub for this particular industry. Boating in general and cruises yes, but not the super yacht rental side of things.
@@wib6044 Are you sitting down? Ready for other useless facts? I thought so👍 We are also known as the Venice of America or Little Venice because of our intercostal water way system. See google maps. Same intercostal permits free movement of large yachts to the Atlantic ocean and then sheltered and docked right outside your $100+ million mansion. We also hold the worlds (yes, worlds I think) largest boat show. Brings in MILLION$ every year. Google Fort Lauderdale boat show. Our city is also the gasoline supplier to ALL of south Florida and the Keys. Naples, Fort Meyers, Miami, West Palm beach. We receive MANY oil tankers daily and have storage and distribution all located at Port of Everglades. Also, goldfish don’t like Jell-O. Don’t ask.
I'm an accountant, and one of my client told me his happiest days with the boat is the day he bought it, and the day he sold it, even if you could comfortably afford the up keep, the constant expenses and issues with the ship is just plain annoying.
especially if you choose to not live the lifestyle and are just choosing as a monthly outing. you will never see the full potential realized in service and should opt for private charters to get a similar experience. if you want to circumnavigate get a smaller boat that can utilize wind!
Superyachts are not worth the money but anything sub 80ft which are normal yachts are good for you if you have the money.... If you are sitting on 200 million USD then it would barely cost you 300k a year to maintain it and you can go on some great private tours with your family in that yacht.... even if your net worth shrinks 5 million for that yacht you still have 195 millions and some great memories for your life
i saw a yacht in Croatia that cost $300m to purchase, $40m a year to run, had 32 crew, 3 helicopter pads, a heli hanger, a hospital, 3 pools, and a separate "support yacht" that cost an additional bunch of million a year. it amazes me how rich some people are. for those wondering it is called the Infinity
It´s because these people focus on their residual income instead of amount in the bank. I hate to sound like those wealth guru´s but this is actually how it works. $40m a year is peanuts if you earn $1million every 10min
Its for tax saving The owner probably a invstor/founder in a publically trded company he pledge his shares to get loan to buy his yacht with this loan he dont need to pay income tax
I still remember the thanksgiving when my cousin came up from Miami to tell us about his new job working with HVAC. He somehow ended up working for a dude who owns a super yacht, and was getting paid 6 figures for it. The reaction from my dad will always be one of the funniest things I've seen at our dinner table. Almost spitting out his sweet tea and yelling out "You make how much!?".
Nice video. I run a sailing charter business in New York Harbor. I keep things in top-tier shape and compliant, but my costs are nothing like those beasts. I also do most of my work myself in the off-season.
Great video of Snowbird in LMC, Fort Lauderdale. We're a profitable charter yacht just need to run it like a business keeping an eye on expenses and having a good charter program.
Caring for the environment is only for the little people! Private jet to get to the boat, forget the environment. A week around the Caribbean in a gas-guzzling yacht, forget the environment. The list goes on.
You too wouldn’t care about the environment if you had money. You cling to it because you hate seeing other people with money and it validates your miserable life 😂😂
Y'all also forget, the more money you have the more the cost is pocket change, he said in the end most people that but big yatch really want to take care of them, even 5M a year is money most of these guys make in a good day
This didn't include the depreciation cost. If you assume that it depreciates say, like a BMW, which is quickly and fast and approaches about 10% of its new value in about 10 years, it's fair to say that an additional $1 million should be added to the cost of this $15 million yacht. Or, the true cost of ownership is likely $3 million per year.
Depreciation is heavily influenced by deferred maintenance and upgrades. In this category most yachts are 1 of 1 so it's really difficult to say what it will sell for in 5 or 10 years. There are some yachts that sell at 3 years for more than they cost new.
Cars lose value driving out of the dealership; super yachts don't. Depending on the market and the awesomeness of your vessel, you could actually sell your yacht for _more_ than it cost you because another rich person is willing to pay extra to have a new(ish) yacht "right now" than waiting a few years for their custom build.
surprisingly enough catamarans have a great retention, because they are more attainable for most and function as a better bluewater livaboard that can utilize wind. but for anything else, your assumption is correct and this video illustrates how unless you choose to commit to the lifestyle of livaboard you will probably never see the value in your boat realized.
It depends. If there's a big delivery delay, people will usually just buy a built vessel and retrofit it. That's why you see billionaires buying boats from other billionaires, because they don't want to wait 3-4 years for a custom build vessel.
Based on these tremendous cost of maintaining a yacht it shocks me that super rich 1. Have and are willing to spend this money to have a yacht 2. How many days per year do they use this yacht. Don't they have other vacation places they go? 3. How much time do they have to be involved with the ships maintenance? Yes, I understand they delegate the work out, but they still have to approve the work and maybe even communicate with some of the vendors. It seems it would be so much easier just to charter these boats for 1 week to 1 month per year at the very most.
I don't think you have any concept for exactly how rich some people are. The ones buying yachts like these could afford an entire fleet of them if they wanted. They entirely delegate all the work for overseeing maintenance It's the modern equivalent of having a lawn 200 years ago. It's all about showing off how much money you can throw away
@@mikea5745 I am involved in mergers and acquisitions so I see business owners selling their companies or going IIPO on a regular basis. Just hard to believe these smart people are willing to invest in a transaction that is a guaranteed operating loss of millions per year .
Tax purposes also. My company owner bought a Jet for $55 million to offset his next 3 years tax bills. He is kind enough to have me and family on his 150’ Sunseeker for 2 weeks every other year. We cruise Bahamas and Caribbean. He also spends several hundreds of thousands sometimes just to get his yacht transported to the Mediterranean or to Phuket. Yes, these yachts do not even cross the Oceans. Huge specialized yacht transporters drop them off at desired locations. The entire crew travels along and owner arrives to yacht location via his charter or own transport. Also, in Monaco during Formula 1 season, he is always outbid for berths or docking spaces. His boat is kept in “cheaper” berths at St Tropez. BTW, we had a catering bill of $20,000 one evening for dinner and drinks for 8 people.
For a billionaire, buying a 14 million yacht is equivalent to a millionaire buying a 14k Toyota. The amount of wealth they have is just incomprehensible for normal people.
4:25 There's no way the paint costs $1800/in². If it was, that would mean a 10ftx10ft section would cost nearly $26 million. Painting an entire superyacht would cost billions of dollars. Does the WSJ no longer have editors?
Your on screen graphics states marine paint is $1,800 per square inch. That is over $200,000 per square foot. You're off by a factor of 50,000 to 100,000!
He is not talking about the area (square inch) that needs to be painted, he is talking about the length of the boat divided by the cost to paint. A 100 foot yacht is 1,200 inches long. At up to $1,800 a foot its, up to $2,160,000 to paint that boat.
Yacht snow bird 13.9mil price 358gross tonnage volume 3.800nm range 12.000gallons= 45.000+liters Normally budget for a yacht would be no more than 10% of ur net worth . Cauz it's gonna cost u 10~20% of purchasing price for maintaining cost every year. 15~20% of ur net worth for yacht budget coud make your own yacht chartering yacht many times to earn maintaing cost .
I would like to know how much cost to rent 1 for a month? I bet it won't be nowhere near 1.9 and am guessing the owners don't use it for more then a month annually.
I understand private jet - it's fast and comfortable, but I never understood yachts. What do you do for a month on one of this? Diving and swimming must be boring after one week.
Dude 100% I would for sure want to be able to sale and take care of it myself. I know I would need some help but I enjoy taking care of the things I have!
The gentleman carrying out the service on the main propulsion units is quoting a figure of $ 60 K / annum. That sounds rather steep? One must assume that they are amassing high hours?
you can see why the charter business is so busy, unless u can justify the time and effort, you are better off paying a few hundred grand a year and chartering a large yacht and not have the hassles of ownership. However, if you use the boat a lot and see the value in it and you can afford it, then u need to accept the cost of ownership. a lot of 1% ers value the privacy and the ability to escape that a large yacht can give them and their families.
Docking costs 43.50 to $7.50 per feet per day? That's only $622.50 at max for this 83-feet superyacht with at least 3 rooms and a the owner suite, and Spa. Thinks about it.
A big historic house can also cost high % of the purchase price every year. With periodic big ticket items. And be used as little for globe trotters with diverse interests.
All the rich bashing aside, people forget that these yachts are not like a car, these yachts create a lot of jobs for a lot of people because of how much they cost to maintain. In many seaside communities like in Florida these boats make it possible for a lot of locals to live in places like the keys and have good paying jobs.
There is no official distinction between vessel size. So 82 feet doesn’t mean it’s a “Superyacht”. I wish there was a standard; then we could have proper classes.
It sounds like a lot of money to us, but if you're a multi-millionaire pulling in 100 million + a year. that means the boat is 14% of your income and the upkeep is 2% of your income. 2 and 14 million dollars is pocket change to these guys when it's something they want.
It’s not that bad! If you have $20 Million to blow on a yacht 🛳️ I’d expect that person’s net worth to be in the $80M to $100M range at minimum! The problem only comes in when you buy a yacht that expensive & your only worth about $40M to $50M & don’t have a high income, but a person buying this worth $100M & makes around $8M-$10M a year then your good! $2-3 Million a year on yacht fees won’t hurt you all that much! Life is short, if I had it to spend & maintain i wouldn’t hesitate to buy one! 🛳️💸😎
These figures make no sense. They said the yacht could be rented for $125,000 - $145,000 per week, which adds up to $5,200,000 per year. I understand it wouldn't be chartered every week, but even if it was chartered for 26 weeks per year, this still comfortably offsets the cost, which they claim to be $1,900,000?. Can someone with a bit more knowledge explain this please? I feel I may have missed something really obvious.
Most yachts summer in Med and winter in Caribbean. Take out time the owner uses it and scheduled maintenance at the marina or dock, and most are only chartering 10-20 weeks annually.
it's not $1800 per SQUARE inch. when the guy said $1800/inch, he meant $1800 per LINEAR inch, which, on a 100ft boat, is $2.16M. Probably won't be that much, maybe a quarter of that.
costumery tip of 18% for the crew, sorry what after paying 200 k to go on the boat in the first place and get out of the port, on top of that you have to pay 18% from that as a tip Or did I get it wrong ? 5:10
800K a year for the staff when the owners are barelly there? Where do I sign up? I doubt that Latin American crew is so expensive, only the captain or engineer might be getting 50k for those few times he si needed. I guess the price is for security and escorts
Na Captains earn over 100k. And Latin American crew aren't particularly in demand. Not because of the skills but because of their passports. They often need to obtain visas from embassies. Most crew come from Australia, NZ, north America the UK and EU because they can obtain visas on arrival in many more countries. The exception would be for super yachts keep in one place or just to neighboring countries like South East Asia for example.
No doubt it's an insanely expensive toy, but aren't there tax write-offs not mentioned here that help ALOT ? I think that's why most list their boats for charter to make them a biz item. I'd bet dollars to doughnuts that owners gain more in tax relief than they do in charter profit.
None of this is true. The reporter was assigned to do a video demonstrating the ridiculous price of owning a yacht. So they haphazardly slapped together a random “worst case scenario” list. It would be like saying owning a home means you have to get a new roof and new central air every year, etc.
@@singvogel7895 billionaires or centimillionaires dont get hurt feelings that easily... they live in a very calm and composed environment... it is poor monkeys who dance the most trying to prove their superiority
I'll save myself some time & money and just buy a reasonable size boat that doesn't cost so much to maintain. You can get just as much enjoyment out of a smaller boat as you can out of a big yacht without spending that much.
I had never felt so good about NOT having a 14 million dollar boat!
Funny you say that, cause I was feeling the same way!!
@@sunvegetaif we all pool together, we can afford 2 hours aboard this thing!
@@JudgeDredd_ 🤣🤣👍👍
@@JudgeDredd_ And we will all paddle too!
The two best days in a boat owner's life are the day they buy the boat and the day they sell it.
For those commenting on the $1,800 an inch number. He is not talking about the area (square inch) that needs to be painted, he is talking about the length of the boat divided by the cost to paint. A 100 foot yacht is 1,200 inches long. At up to $1,800 a foot its, up to $2,160,000 to paint that boat.
Thanks, that was kind of confusing.
🤯
Even Wall Street Journal misunderstood that. They tagged it as "$1800/Sq. In."
That still doesn't make sense because hull shapes vary hugely. Then you've got the super structure which also varies widely. A long hull with a thin beam will be quicker that a deeper drafted vessel of the same length, or with a wider beam.
I guess he $1800 per inch is a reference but it shouldn't be considered more than a very very rough guide.
The *one* time where it is about the length 😏
Best advice I ever got was: If you can only afford one boat, then you really can't afford one. 😂
that is true... anyone below 50 million net worth should not consider buying a yacht above 1 million price tag
@@Iamalemonwhy you need 50 million annual profit from business to buy that thing
dayum why is the truth always so harsh
@@Iamalemonwhy thats not true, above 2 - 3 million as those are still owner operated yachts (Princess V60, Sunseeker Predator line and etc) the crew is half of the expenses.
My sibling works on a superyacht and a lot of her time is spent docked coordinating project managers, deliveries, and vendors working on upgrades and repairs. It's constant. In addition, making sure everything is stocked for crew.
I’m in Fort Lauderdale and this is a HUGE business here.
STUPID money!
Working on them is just an entirely different world from your normal day to day service calls.
Without reservation EVERY crew member, EVERY ONE, was the most pleasant, educated, well spoken and nicest person you could ever meet! Always great crew members for sure.
My invoice was paid via Zelle without complaint before I could put my street shoes back on and return to my car.
I believe Fort Lauderdale is like the LARGEST port city in the US to do yacht maintenance. If you want it done, you come here! Having the Bahamas 90 miles away helps too!
Yes they call Fort Lauderdale “Venice of America” massive beautiful boats. Great point on the crew also.
I’ve noticed that too with boat crews. They are almost always amazing, interesting, adventurous people.
I Love Florida 🌴🌅🌊☀️
I’m from Fort Lauderdale too. The yachties who work these yachts sure can party lol
Just watching below deck and having lived in FL my whole life didn’t realize it was a major hub for this particular industry. Boating in general and cruises yes, but not the super yacht rental side of things.
@@wib6044 Are you sitting down?
Ready for other useless facts? I thought so👍
We are also known as the Venice of America or Little Venice because of our intercostal water way system. See google maps.
Same intercostal permits free movement of large yachts to the Atlantic ocean and then sheltered and docked right outside your $100+ million mansion.
We also hold the worlds (yes, worlds I think) largest boat show. Brings in MILLION$ every year.
Google Fort Lauderdale boat show.
Our city is also the gasoline supplier to ALL of south Florida and the Keys. Naples, Fort Meyers, Miami, West Palm beach. We receive MANY oil tankers daily and have storage and distribution all located at Port of Everglades.
Also, goldfish don’t like Jell-O. Don’t ask.
I'm an accountant, and one of my client told me his happiest days with the boat is the day he bought it, and the day he sold it, even if you could comfortably afford the up keep, the constant expenses and issues with the ship is just plain annoying.
especially if you choose to not live the lifestyle and are just choosing as a monthly outing. you will never see the full potential realized in service and should opt for private charters to get a similar experience. if you want to circumnavigate get a smaller boat that can utilize wind!
Your client sure chose one of the most cliche sayings about boat ownership
Yeah, that’s a pretty original and profound client you have there…
Nah that brother broke
Superyachts are not worth the money but anything sub 80ft which are normal yachts are good for you if you have the money.... If you are sitting on 200 million USD then it would barely cost you 300k a year to maintain it and you can go on some great private tours with your family in that yacht.... even if your net worth shrinks 5 million for that yacht you still have 195 millions and some great memories for your life
i saw a yacht in Croatia that cost $300m to purchase, $40m a year to run, had 32 crew, 3 helicopter pads, a heli hanger, a hospital, 3 pools, and a separate "support yacht" that cost an additional bunch of million a year. it amazes me how rich some people are. for those wondering it is called the Infinity
It´s because these people focus on their residual income instead of amount in the bank. I hate to sound like those wealth guru´s but this is actually how it works. $40m a year is peanuts if you earn $1million every 10min
Its for tax saving The owner probably a invstor/founder in a publically trded company he pledge his shares to get loan to buy his yacht with this loan he dont need to pay income tax
If you’re buying a 300M yacht, you’re probably worth 10B+ at least….. and your yearly income insane.
@@BondJFK yea, he’s the owner of Harbor Freight
Pretty sure you saw a navy frigate. Did the crew have guns?
I still remember the thanksgiving when my cousin came up from Miami to tell us about his new job working with HVAC. He somehow ended up working for a dude who owns a super yacht, and was getting paid 6 figures for it. The reaction from my dad will always be one of the funniest things I've seen at our dinner table. Almost spitting out his sweet tea and yelling out "You make how much!?".
Nice video. I run a sailing charter business in New York Harbor. I keep things in top-tier shape and compliant, but my costs are nothing like those beasts. I also do most of my work myself in the off-season.
Well that's really helpful when I've been researching the operational costs of owning a Sunseeker 115
Best friend you can have is a friend with a boat.
Thanks for the video. Made me reconsider buying a brand new super yacht!
You have convinced me! I don't buy a 14 milions USD yacht, .... and was quite close to. :)
The cost of maintenance comes out to 10 percent of its purchase price. Thank you for sharing.
Great video of Snowbird in LMC, Fort Lauderdale. We're a profitable charter yacht just need to run it like a business keeping an eye on expenses and having a good charter program.
Caring for the environment is only for the little people! Private jet to get to the boat, forget the environment. A week around the Caribbean in a gas-guzzling yacht, forget the environment. The list goes on.
You care for the environment, and I will have fun on the yacht.
No one gives an f about the climate scam
You too wouldn’t care about the environment if you had money. You cling to it because you hate seeing other people with money and it validates your miserable life 😂😂
@@duckies717 If that what you think. Some one that has to be insulting like you says a lot about you.
@@duckies717 na. I agree w his comment and im not miserable. The rich only care about anything that keeps them rich
Y'all also forget, the more money you have the more the cost is pocket change, he said in the end most people that but big yatch really want to take care of them, even 5M a year is money most of these guys make in a good day
This didn't include the depreciation cost. If you assume that it depreciates say, like a BMW, which is quickly and fast and approaches about 10% of its new value in about 10 years, it's fair to say that an additional $1 million should be added to the cost of this $15 million yacht. Or, the true cost of ownership is likely $3 million per year.
Depreciation is heavily influenced by deferred maintenance and upgrades. In this category most yachts are 1 of 1 so it's really difficult to say what it will sell for in 5 or 10 years. There are some yachts that sell at 3 years for more than they cost new.
you dont buy new yachts.... you buy 5 to 8 year old yachts and then do the interior work yourself
Cars, on average, lose half their value in 3 years.
Cars lose value driving out of the dealership; super yachts don't. Depending on the market and the awesomeness of your vessel, you could actually sell your yacht for _more_ than it cost you because another rich person is willing to pay extra to have a new(ish) yacht "right now" than waiting a few years for their custom build.
The crazy thing is…there’s people that can afford this 😭😭😭😭😭 I’ve never felt so broke in my life
And what about depreciation? I imagine it's much worse than a car's 30% per year
surprisingly enough catamarans have a great retention, because they are more attainable for most and function as a better bluewater livaboard that can utilize wind. but for anything else, your assumption is correct and this video illustrates how unless you choose to commit to the lifestyle of livaboard you will probably never see the value in your boat realized.
@@smplfi9859 Rich people don't like to buy used products.
@@untouchable360xno. Super super rich people don't like it buy used products. But semi super rich don't mind.
It depends. If there's a big delivery delay, people will usually just buy a built vessel and retrofit it.
That's why you see billionaires buying boats from other billionaires, because they don't want to wait 3-4 years for a custom build vessel.
@@Random_dud31Depends. The crown prince of Saudi Arabia is worth hundreds of billions and bought a superyacht off of a Russian billionaire.
"Costs towards their health insurance" as the editor switches to a side shot of the captain with the belly ambling along. Nice touch.
id rather own a jet that way i can fly from bermuda to the cayman islands, onto monaco and than leichtenstein and switzerland
CAT charges for spare parts are huge. They make crazy profit from it.
Based on these tremendous cost of maintaining a yacht it shocks me that super rich
1. Have and are willing to spend this money to have a yacht
2. How many days per year do they use this yacht. Don't they have other vacation places they go?
3. How much time do they have to be involved with the ships maintenance? Yes, I understand they delegate the work out, but they still have to approve the work and maybe even communicate with some of the vendors.
It seems it would be so much easier just to charter these boats for 1 week to 1 month per year at the very most.
its a status symbol, much more impressive to invite business partners and other peers onto your yatch than a rented yatch
I don't think you have any concept for exactly how rich some people are. The ones buying yachts like these could afford an entire fleet of them if they wanted. They entirely delegate all the work for overseeing maintenance
It's the modern equivalent of having a lawn 200 years ago. It's all about showing off how much money you can throw away
@@mikea5745 I am involved in mergers and acquisitions so I see business owners selling their companies or going IIPO on a regular basis. Just hard to believe these smart people are willing to invest in a transaction that is a guaranteed operating loss of millions per year .
Tax purposes also. My company owner bought a Jet for $55 million to offset his next 3 years tax bills. He is kind enough to have me and family on his 150’ Sunseeker for 2 weeks every other year. We cruise Bahamas and Caribbean. He also spends several hundreds of thousands sometimes just to get his yacht transported to the Mediterranean or to Phuket. Yes, these yachts do not even cross the Oceans. Huge specialized yacht transporters drop them off at desired locations. The entire crew travels along and owner arrives to yacht location via his charter or own transport. Also, in Monaco during Formula 1 season, he is always outbid for berths or docking spaces. His boat is kept in “cheaper” berths at St Tropez. BTW, we had a catering bill of $20,000 one evening for dinner and drinks for 8 people.
For a billionaire, buying a 14 million yacht is equivalent to a millionaire buying a 14k Toyota. The amount of wealth they have is just incomprehensible for normal people.
Thank you wsj. I was about to buy a yacht. Now that I seen this video I’m not going to.
I mean, if you know Amazons AMZT66 you can have your own Yacht top kek
Gosh this sucks, I feel really bad for the yacht owners having all these expenses. I’m literally crying.
Feel bad!? It's not like someone put a gun on their heads and said buy a yatch or die. People can do whatever with their money
@@Duck_31 r/woosh
lol
1.9 million a year to maintain seems like a good deal. I'm all in!
4:25 There's no way the paint costs $1800/in². If it was, that would mean a 10ftx10ft section would cost nearly $26 million. Painting an entire superyacht would cost billions of dollars.
Does the WSJ no longer have editors?
Someone mentioned above that it’s likely linear inch and not square inch, still seems excessive.
Comprehension skills lacking?
You have two happy days with a boat. The day you buy it and the day you sell it
So glad these toys are not a necessity of life. The expenses are eye watering!
A boat is like hole in the water where you pore lots of Money into and it never ends
Its incredible how many rich people there are in the world today.
Why is everything "gummed up" on yachts?
You might as well throw your money into the water. If it flies, floats or...., rent it.
That's why some people call boats a hole in the water.
people who have money dont think that way
I'm rethinking my yacht purchase.
Always reassuring to see a deck officer doing machinery related tasks...😳
I've always felt a yacht with wings is a better investment. 👍
Great, now I know all I need to buy one.
Your on screen graphics states marine paint is $1,800 per square inch. That is over $200,000 per square foot. You're off by a factor of 50,000 to 100,000!
haha we thought the same thing..
He is not talking about the area (square inch) that needs to be painted, he is talking about the length of the boat divided by the cost to paint. A 100 foot yacht is 1,200 inches long. At up to $1,800 a foot its, up to $2,160,000 to paint that boat.
@@sierrapeaks He said "per inch" but the graphics department put "per square inch" on screen.
@@sierrapeaks It is not $1,800/foot, it is per inch; 1200 inches long x $1,800/ inch = $2,160,000
@@sierrapeaksnever. Not for a 100 ft boat.
Wow they got Spike Jonze to play the role of the yacht mechanic/engineer 2:24
amazing casting
Paint 1,800 $/sq. in. can't be right. It's almost 3M per square meter... and yachts have hundreds of square meters, easy!
its not that expensive...
@@Iamalemonwhy pocket money
Great job and thorough.
Yacht : A luxurious holiday destination.
Yacht snow bird
13.9mil price 358gross tonnage volume
3.800nm range 12.000gallons= 45.000+liters
Normally budget for a yacht would be no more than 10% of ur net worth .
Cauz it's gonna cost u 10~20% of purchasing price for maintaining cost every year.
15~20% of ur net worth for yacht budget coud make your own yacht chartering yacht many times to earn maintaing cost .
Fantastic overview on why we should eat the rich.
This makes 100k a yacht charter seem like pennies all of a sudden... pppfewww 😂
Thank you for sharing this beautiful yacht.
I would like to know how much cost to rent 1 for a month? I bet it won't be nowhere near 1.9 and am guessing the owners don't use it for more then a month annually.
In what way shape or form is this an enjoyable way to spend your time and money??????
I understand private jet - it's fast and comfortable, but I never understood yachts. What do you do for a month on one of this? Diving and swimming must be boring after one week.
depending what are you diving into.
Honestly if I was rich enough to buy a super yacht.. I would just live on it for fun!!
Dude 100% I would for sure want to be able to sale and take care of it myself. I know I would need some help but I enjoy taking care of the things I have!
Good info. I guess this means there is no such thing as a great deal on a used yacht.
If you can afford a yacht, you can afford to buy one under 80 feet.
Happy sailing ⛵️
Educative didn't know about these expenses
The gentleman carrying out the service on the main propulsion units is quoting a figure of $ 60 K / annum.
That sounds rather steep? One must assume that they are amassing high hours?
This a vell educational video
!
you can see why the charter business is so busy, unless u can justify the time and effort, you are better off paying a few hundred grand a year and chartering a large yacht and not have the hassles of ownership. However, if you use the boat a lot and see the value in it and you can afford it, then u need to accept the cost of ownership. a lot of 1% ers value the privacy and the ability to escape that a large yacht can give them and their families.
I'm guessing if you can afford to buy one maintenance isn't a problem.
Docking costs 43.50 to $7.50 per feet per day?
That's only $622.50 at max for this 83-feet superyacht with at least 3 rooms and a the owner suite, and Spa. Thinks about it.
A big historic house can also cost high % of the purchase price every year. With periodic big ticket items. And be used as little for globe trotters with diverse interests.
But they usually appreciate in value, boats do not.
The carbon emissions from superyachts are insane too.
Plants are happy about that
@@francismarion6400
Have you been talking to them again?
All the rich bashing aside, people forget that these yachts are not like a car, these yachts create a lot of jobs for a lot of people because of how much they cost to maintain. In many seaside communities like in Florida these boats make it possible for a lot of locals to live in places like the keys and have good paying jobs.
Jealousy is blinkered unfortunately. Those jealous rich bashing people don't want to know about the inconvenient facts that you outlined.
There is no official distinction between vessel size. So 82 feet doesn’t mean it’s a “Superyacht”. I wish there was a standard; then we could have proper classes.
this isn't even counting when you have to replace a flat tire on the boat trailer
“If it flys, floats or f**ks… rent it” Felix Dennis
"i dont have money"felix denis
Basically anything with a engine or a female.
It sounds like a lot of money to us, but if you're a multi-millionaire pulling in 100 million + a year. that means the boat is 14% of your income and the upkeep is 2% of your income. 2 and 14 million dollars is pocket change to these guys when it's something they want.
Excellent, thank you.
The two best days of yacht ownership? The day you buy it and the day you sell it.
It’s not that bad! If you have $20 Million to blow on a yacht 🛳️ I’d expect that person’s net worth to be in the $80M to $100M range at minimum! The problem only comes in when you buy a yacht that expensive & your only worth about $40M to $50M & don’t have a high income, but a person buying this worth $100M & makes around $8M-$10M a year then your good! $2-3 Million a year on yacht fees won’t hurt you all that much! Life is short, if I had it to spend & maintain i wouldn’t hesitate to buy one! 🛳️💸😎
You left out internet. Almost 1 million a year for net that most of us would complain to be too slow
Those caterpillar diesel engines
♥️
Wow! Great thanks!
What do you use on the teak flooring?
Great I want to buy this yacht
These figures make no sense. They said the yacht could be rented for $125,000 - $145,000 per week, which adds up to $5,200,000 per year. I understand it wouldn't be chartered every week, but even if it was chartered for 26 weeks per year, this still comfortably offsets the cost, which they claim to be $1,900,000?.
Can someone with a bit more knowledge explain this please? I feel I may have missed something really obvious.
No boats are chartered that often
@@elishawhite7487 how often are they chartered?
@@dannyquinn9128 max liks 20 weeks a year most about 10 weeks
Most yachts summer in Med and winter in Caribbean. Take out time the owner uses it and scheduled maintenance at the marina or dock, and most are only chartering 10-20 weeks annually.
26 weeks a year.... a yacht costs 150k pw to charter... we dont have enough rich people to charter so many boats
great video!
Cheaper to charter one for a week write it off for your business for meetings
I now know why I don’t have a yacht.😊
it's not $1800 per SQUARE inch. when the guy said $1800/inch, he meant $1800 per LINEAR inch, which, on a 100ft boat, is $2.16M. Probably won't be that much, maybe a quarter of that.
That’s why they say, if it floats, or flies…..it’s better to rent it.
For billionaires, they don't care because it's relatively small compared to their earnings.
Motor LOON is $600K per week :)
If it floats, flys or f*c*s, rent it!
Conclusion: Rent it when you need it the most
costumery tip of 18% for the crew, sorry what after paying 200 k to go on the boat in the first place and get out of the port, on top of that you have to pay 18% from that as a tip Or did I get it wrong ? 5:10
this video is showing wrong information.... 80% of yachts dont have any crew, most are ownerdriven
??????@@Iamalemonwhy
@@Iamalemonwhy that's because most yachts aren't super yachts...
Well, I guess my yatch dreams are no longer feasible. Definitely not at those prices.
Nice gotta sounds like i need to start a yacht club.
Why would electronics go bad sitting?
800K a year for the staff when the owners are barelly there? Where do I sign up? I doubt that Latin American crew is so expensive, only the captain or engineer might be getting 50k for those few times he si needed. I guess the price is for security and escorts
You aren't getting a licensed captain or engineer for 50K. And with Snowbird's tonnage you'll need an officer on the bridge even in port.
Na Captains earn over 100k. And Latin American crew aren't particularly in demand. Not because of the skills but because of their passports. They often need to obtain visas from embassies. Most crew come from Australia, NZ, north America the UK and EU because they can obtain visas on arrival in many more countries. The exception would be for super yachts keep in one place or just to neighboring countries like South East Asia for example.
Boats in general are a huge waste of money. Always better off to just charter or rent.
No doubt it's an insanely expensive toy, but aren't there tax write-offs not mentioned here that help ALOT ? I think that's why most list their boats for charter to make them a biz item. I'd bet dollars to doughnuts that owners gain more in tax relief than they do in charter profit.
None of this is true. The reporter was assigned to do a video demonstrating the ridiculous price of owning a yacht. So they haphazardly slapped together a random “worst case scenario” list. It would be like saying owning a home means you have to get a new roof and new central air every year, etc.
It certainly did not sound that way to me. But good for you for supporting the hurt feelings of billionaires, just getting by on a shoestring.
@@singvogel7895 Your response demonstrates my point. This story was aimed a gullible people who think “rich people bad.”
@@singvogel7895 billionaires or centimillionaires dont get hurt feelings that easily... they live in a very calm and composed environment... it is poor monkeys who dance the most trying to prove their superiority
Depreciation huge too
I'll save myself some time & money and just buy a reasonable size boat that doesn't cost so much to maintain. You can get just as much enjoyment out of a smaller boat as you can out of a big yacht without spending that much.
Talk about getting ripped off, not all wealthy are smart 😂😂😂
And everything is more expensive simply because it has "For marine use" or "Marine certified" on the side of it.
I’d love to see an estimate of Jeff Bezos’s carbon footprint.
The thing is, the owner's probably worth a billion, making 100 million a year.
Still haven't considered one big problem, how to dock my helicopter on my yatch?
see the safety issues and rack them up